Would they be entitled to recover only the principle they put in up to $500,000. Or any balance that had been reported to them including false gains?
Wouldn’t investors with over $500,000 share in recovered assets only to the extent such recovered assets exceed the $500,000 liability. In other words, recovered assets would first go to repay the insurance for the $500,000 and then only if recoveries exceed all claims is there anything to split.
related thread:
Full Lists of Madoff Clients, Brokers, Employees
**************************EXCERPT **********************
Post #3.....
Mind boggling when you think about the fact that there was a $1M minimum investment.